drop to 19.1%, compare to 24.5% in the same quarter of last year and 19.9% in last quarter. Selling and administrative expenses (including research and development – R&D) in Q3’19 went up 5.7% from Q3’18

Vehicle Solutions after a short period drop down in Q2 Selling and administrative expenses (including research and development – R&D) in Q3’20 still keep close to Q3’19 and Q2’20. Operating profit in Q3’20

research and development – R&D) in Q1’20 keep close to Q4’19 and Q1’19 contribute from the squeezed of Admin and Selling expenses together with the boost up of R&D workforce especially in Europe in order to

and the Capital Market 2022.” Guest panelists were Mr. Paiboon Nalinthrangkurn, Chairman of the Federation of Thai Capital Market Organizations (FETCO), Mr. Nonarit Bisonyabut, Ph.D., research fellow at

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No. SN.LK 017/2018 May 11, 2018 Subject Management Discussion and Analysis Quarter 1 Ending 31 Mar 2018 To The President The Stock Exchange of Thailand Indara Insurance Public Company Limited would

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Zen Corporation Group Public Company Limited 782/1 Soi Onnuch 17, Suanluang, Bangkok 10250 THAILAND Tel: 02-0195000 18 February 2019 No. ZEN 2562-002 Subject Management Discussion and Analysis for